Vancouver Price Drop

Documenting Vancouver real estate price movements

The Weekly Flip Flop – May 11, 2012

Once again we profile the 5 homes that have been increased the highest % over this past week.  I believe at some point this weekly article will become extinct as sellers jump over themselves dropping prices to quickly sell

#1) Address:3223 W 26TH AV, MacKenzie Heights, Vancouver West

May 07 V948456 $2,999,998
May 08 V948456 $4,909,674 $1,909,676 64% 64%

UPDATE: After raising the price by almost $2 million after a couple of days this home was removed from the MLS and then, a day later under a new MLS number relisted at just under $4 million.  Listed at $3 million then $5 million then $4 million in the course of a single week.  Only in Vancouver.

Assessment: $2,819,000

BEST PRICE NEW HOME IN MACKENZIE HEIGHTS. Almost 4500sf custom QUALITY HOME on level SOUTH 49.5 x 130 lot. 6 bdrm + den, 6.5 baths. CLOSE TO WELL KNOWN SCHOOL CATCHMENT; PRINCE OF WALES SECONDARY, LORD KITCHENER ELEMENTARY, ST GEORGES, CROFTON & YORK HOUSE PRIVATE SCHOOL. 15 min drive to UBC,SHOPPING,TRANSIT. This GORGEOUS HOME offers EUROPEAN STYLE INTERIOR w QUALITY WORKMANSHIP gives feeling of MDRN/TRAD lux lvng. Foyer w high ceiling opening on living & dining rm, HD flr thru-out, entertaining sized gourmet kit w high-end cabinetry & SUBZERO WOLF applncs, rad flr heat,AC ,HRV,security smart sys. LARGE REC RM in bsmnt w HOME THEATRE,WET BAR,SAUNA,STEAM SHOWER FOR entertaining. SECURED PARK-LIKE BCKYRD w 3 CAR GARAGE. MUST SEE!

#2) Address:12320 NO 3 RD, Gilmore, Richmond

March 09 V862155 $1,288,000
May 03 V862155 removed
May 10 V949058 $1,800,000 $512,000 40% 40%

Assessment: $1,184,800

Great holding investment or build your dream home on this large .617 acre lot with 160 ft frontage.

#3) Address:3329 W 10TH AV, Kitsilano, Vancouver West

May 03 V947005 $1,068,000
May 10 V947005 $1,480,000 $412,000 39% 39%

Assessment: $1,193,000 and sold Feb 21, 2011 for $1,160,000 

33′ x 115′ lot in prime Kitsilano area. Tastefully updated with new kitchen, new bathrooms, new hardwood floor, new printings and more… Specious and functional layout, beautifull living room with wood burning fireplace, huge sundeck. 2 bedrooms up with big kitchen. Potential 2 bedroom suite for mortgage helper. Steps to public transportation, shopping and restaurants. Good school attachment: Bayview Elementary, Kitsilano Secondary. 1st showing and open house May 5th and 6th Saturday and Sunday from 2-4 pm.

#4) Address:3833 PUGET DR, Arbutus, Vancouver West

April 27 V945941 $2,990,000
May 09 V945941 $3,580,000 $590,000 20% 20%

Assessment: $2,745,000

Stunning 180 degree panoramic view of downtown, north shore mountains and city skyline. Prestigious Puget Drive custom built home designed by renowned architect Vincent Kwan located in most desirable Arbutus Ridge area. Elegance & luxury high end finishing’s & attention to detail through this magnificent home. High ceiling enterance w/ mable floor. Spacious and functional open layout. Huge balcony overlook magnificent views. Perfect for relaxing & entertaining. Close to Prince of Wales secondary School, Trafalgar Elementary & UBC

#5) Address:9440 KIRKMOND CR, Seafair, Richmond

March 24 V939018 $1,090,000
April 23 V939018 removed
April 26 V945591 $899,000 $-191,000 -18%
May 08 V945591 $1,068,800 $-21,200 -2% 19%

Assessment: $992,200

Completely & tastefully renovated split house sitting on 7384 sf lot with nice and quiet street appearing. This 2800 sf house has 7 bedrms, & 4 full bath. Recently updated with real hardwood flooring throughout, all double glazed window, new interior & exterior paint, new moulding, new lighting, new cover patio, new kitchen with granite count-top, S/S appliances, marble flooring & oak cabinet. New bathrm has marble wall, granite counter-top and new tub. Nice & enjoyable 2 bedrm rental suit with permit has everything new. Another 2 bedrm suit is available as bonus. Beautiful front fence & quality stone stair brings a better living. Excellent for living, holding or build new house in future.


6 responses to “The Weekly Flip Flop – May 11, 2012

  1. dunbarfarmer May 11, 2012 at 6:28 pm

    Regarding 3223 W 26th. There are 2 new houses side-by-side built on a double lot at the same time/same contractor, etc. Could this be the price for BOTH of them? A couple of weeks ago there was one sign between the two of them.

    • an observer May 11, 2012 at 8:31 pm

      It’s hard to explain but I don’t think that was it. I looked at the listing when it came up that it had increased so much and it was for a single home.

  2. zerodown May 12, 2012 at 2:23 pm

    School attachment?, street appearing? I’ll take 5% of commission to write or edit the blurb copy for goodness sake.

  3. M- May 14, 2012 at 4:31 pm

    Looking at #3… “specious layout”. Jeez, is this another Freudian slip from a realtor? Or a realtor trying to add some reality to a listing, without arousing the suspicions of the owner? Or just the usual incompetence or lack of attention to detail?

    -Superficially plausible, but actually wrong: “a specious argument”.
    -Misleading in appearance, esp. misleadingly attractive: “a specious appearance of novelty”.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: